Zacks Investment Research upgraded shares of Tribune Media (NYSE:TRCO) from a strong sell rating to a hold rating in a report released on Wednesday, November 15th.
According to Zacks, “Tribune Media Company is engaged in broadcast distribution, digital properties and data businesses. The company provides Antenna TV, THIS TV, radio station, music and video content and technologies. It also owns and manages real estate properties. Tribune Media Company, formerly known as Tribune Company, is based in Chicago, Illinois. “
Several other research firms have also recently weighed in on TRCO. BidaskClub upgraded Tribune Media from a sell rating to a hold rating in a research report on Tuesday, October 31st. Deutsche Bank assumed coverage on Tribune Media in a research report on Friday, October 20th. They set a hold rating and a $42.00 price objective on the stock. Finally, Jefferies Group reiterated a hold rating and set a $42.00 price objective on shares of Tribune Media in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $43.88.
Tribune Media (NYSE TRCO) traded up $0.39 during mid-day trading on Wednesday, reaching $41.54. The company’s stock had a trading volume of 1,600,561 shares, compared to its average volume of 1,460,296. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.01. The company has a market cap of $3,592.44, a PE ratio of 28.38, a price-to-earnings-growth ratio of 12.36 and a beta of 1.51. Tribune Media has a 1 year low of $27.75 and a 1 year high of $43.04.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). The firm had revenue of $450.53 million for the quarter, compared to the consensus estimate of $459.81 million. Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. equities research analysts expect that Tribune Media will post 1.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Monday, November 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, November 17th. Tribune Media’s payout ratio is currently -75.19%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Tribune Media by 0.3% in the second quarter. Vanguard Group Inc. now owns 6,066,444 shares of the company’s stock worth $247,329,000 after purchasing an additional 16,849 shares during the period. Pentwater Capital Management LP bought a new position in shares of Tribune Media in the second quarter worth $228,312,000. Magnetar Financial LLC increased its position in shares of Tribune Media by 1.5% in the third quarter. Magnetar Financial LLC now owns 3,494,856 shares of the company’s stock worth $142,800,000 after purchasing an additional 50,070 shares during the period. BlackRock Inc. increased its position in shares of Tribune Media by 10,758.5% in the first quarter. BlackRock Inc. now owns 3,059,287 shares of the company’s stock worth $114,020,000 after purchasing an additional 3,031,113 shares during the period. Finally, Alpine Associates Management Inc. bought a new position in shares of Tribune Media in the second quarter worth $108,957,000. Institutional investors own 90.77% of the company’s stock.
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Tribune Media Company Profile
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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